The Life Insurance Company (LIC), is a trustworthy Insurance company. LIC premium is a regular payment made by the insured to the LIC company for insuring him or covering his risk. The periodical payment is necessary to keep your Insurance. The mode of payment can be yearly, half yearly, quarterly, or monthly. It is often a task for the insured to remember to periodically pay the insurance without fail. But you might lose your insurance if you fail to pay your premium. This is where your bank account comes to your rescue.
Indian Bank and LIC
Indian Bank is a government owned banking company. It was established in 1907, to provide standard banking services. It’s headquarters is in Chennai and the bank is widespread over the country with its 6004 branches. The bank is set up to benefit you and ease your daily life transactions. With growth and development around the globe, the bank has also evolved to provide more than just loans and Deposits. In order to make your life better and payment process easier, Indian Bank now offers to pay your regular premiums and bills for you.
How to pay your LIC premium online?
Visit the official website of LIC
- Select ‘online services’ from the main portal .
- Click on ‘Pay premium online’ from the online services
- From the tab, select ‘Pay direct’.
- Click on ‘Renewal premium’.
- On the next tab, validate yourself as a LIC customer by providing your policy number, date of birth and registered mobile number.
- Submit the captcha code.
- Next, verify the information you’ve previously entered.
- Select the mode of payment in the next step
- Use your Indian Bank credit or debit card.
- An Indian Bank net banking portal will open up.
- Enter the User ID details, and Password of your Bank
- Enter your card details.
- Verify your payment.
How to pay your LIC premium with Indian Bank?
- Visit the official website of Indian Bank
- Click on premium payment
- On the portal, select a date on which you would like your back to make your payment
- Indian Bank will make your premium payments for you .
Benefits of making online payment from Indian Bank
- You can make your payments without having to be physically present in a branch.
- The long queues and time consuming process are eliminated when you use online payment.
- Indian Bank pays your premiums for you, you don’t even have to remember it or remind the bank to do the same.
- There is a proper record for the payment. This reduces the chances of any misunderstandings.
- You will be constantly updated about your payments through emails or SMS.
- The interest fees are generally reduced when the payment is made online. LIC supports digital payments in this way.
- There’s always an option to modify your details or the payment process.
- There is no chance of missing out on the payments. The payments will be made duly in time.
The premium payments can be a burden sometimes. With Indian Bank reliable banking services, your insurance will be active and running as long as you want. The timely premium payments made by Indian Bank aims at reducing your burden.
Tired of visiting the LIC Branch for payments ? Hand it out to Indian Bank now.